enigma,
As I remember it, BearCat had discovered a huge oil find either in or
around the North Sea. At the time, like I said before, I had bought
in at $4/US and sold for $10/US within a matter of weeks. As I
remember, it hovered there for a short time and then started back down
for reasons I was not aware of until just recently, when I learned that whatever country controlled the area where the discovery was located, nationalized the whole thing. Naturally, that was a death blow to the stock value.
The whole thing did give McLeod the rep that it was just a matter of time until he would hit another BIG one. Over the last twenty years,
(wow, did I say 20 years!)McLeod has been like Moses, leading the
faithful through wilderness, looking for the Promised Land. Along the
way, there have been a few false alarms that got over-hyped and ended
up disappointing those that thought each time that BearCat had arrived.
I went to an annual meeting awhile back and I was surprised at the turnout. Quite a few stockholders, but it was like a family get-to-
gether, with everyone wanting to see what wild idea uncle Jack had
come up with this year!
So, with the combination of the famous Bre-X gold scam, low oil & gas
prices, the stockholders skepticism and a badly beat up financial statement, it's a wonder that the stock is as high as it is!
But take heart, JM has been as quiet as a mouse, because he knows what
he's sitting on, and we will all know, soon....TR |
